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Feb 8, 2013
02/13
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they evaded taxes with the help of ubs. then they paid back their taxes plus a 20% fine when they took part in an irs amnesty a couple years ago. then they tried to recover some of those damages claiming that ubs failed to tell them that they actually needed to disclose those ubs accounts. by failing to do that, obviously, they committed tax evasion. but, again, the appeals court has thrown out that lawsuit and saying the plaintiff's case is like children who sue their parents to recover tax penalties because their parents failed to raise them to be honest people. it's hard not to be cynical for this story because some of the litigation risk has been removed. back in 009, ubs paid a heavy fine where ubs handed over 4,450 client names. back over to you. >> carolin, thank you. >>> monte paschi is saying it's handing over legal action to those who damage their -- this morning. >> meanwhile, a portrait of picasso's mistress sold this week. so in a time when markets are sinking and debts are recessing, how is the art market stil
they evaded taxes with the help of ubs. then they paid back their taxes plus a 20% fine when they took part in an irs amnesty a couple years ago. then they tried to recover some of those damages claiming that ubs failed to tell them that they actually needed to disclose those ubs accounts. by failing to do that, obviously, they committed tax evasion. but, again, the appeals court has thrown out that lawsuit and saying the plaintiff's case is like children who sue their parents to recover tax...
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144
Feb 5, 2013
02/13
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but it just so happened, at the end of the year, taxes seemed to go bp's way. instead of a tax rate of around 336% to 38%, they were paying about 16% and that actually is nearly all the difference. so that is not something which unfortunately we would expect something to happen on a quarterly basis. so take the money now. it's good news, but not something that you build into 2013. >> so why is the stock up to 32%? clearly that's not an operational thing. >> you're getting a little bit of melt yumm coming back in the gulf of mexico. overall volumes were down 7% year on year. if you take out the divestment, take out psas, they were down less than 1%. if you look at the u.s. liquids production, which is a real guide because it's seasonal, that was up around 45,000 barrels a day. so you've had two big fields which started at the end of the third quarter, which had been up and running for the fourth quarter. we're starting to see those come through in the fourth quarter. that's a tick in the box of what they said they were going to be doing. >> yeah. seymour pierce
but it just so happened, at the end of the year, taxes seemed to go bp's way. instead of a tax rate of around 336% to 38%, they were paying about 16% and that actually is nearly all the difference. so that is not something which unfortunately we would expect something to happen on a quarterly basis. so take the money now. it's good news, but not something that you build into 2013. >> so why is the stock up to 32%? clearly that's not an operational thing. >> you're getting a little...
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Feb 4, 2013
02/13
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accruals, deferred tax accrualaces on half or more than half a billion euros. keep an eye on shares for reaction. look at that popping up about a quarter of 1% now. here is a quick look at today's other top stories. there's been lots of earnings. boeing's 737 jet may have other issues. companies blame outsourcing as poor parts operating outside of boeing's control. one engineer said unlike other boeing jets, the power distribution jets are like radio shack with parts that are cheap and broken to failure. boeing denies its supply of 787 suppliers was insufficient. >>> a pair u.s. pension funds are suing plaquerock alleging blackrock and etf intended to take a percentage of investments for themselves as disproportionate. blackrock shares apparently responding in suit, up 1.75% and doing quite well over a three-month period up almost 20%. >>> the long shoreman's union and workers have agreed to a deal. a walkout would have halted cargo shipments making the first work stoppage in 35 years. and the u.s. government and mexican growers have reached a tentative deal to
accruals, deferred tax accrualaces on half or more than half a billion euros. keep an eye on shares for reaction. look at that popping up about a quarter of 1% now. here is a quick look at today's other top stories. there's been lots of earnings. boeing's 737 jet may have other issues. companies blame outsourcing as poor parts operating outside of boeing's control. one engineer said unlike other boeing jets, the power distribution jets are like radio shack with parts that are cheap and broken...
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Feb 7, 2013
02/13
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but people are paying high tax. big pressure on retailers who continue to innovate whether it's in digital or promotion. who do you see out there that's doing that the best? >> we're not -- where i see product innovation occurring, i think it's with companies like urban outfitters who are transforming their product assortment. i think companies like nordstrom are doing a very good job by collaborating with companies like top shop to become younger. .michael coors continues to show the strength of having a runway of market share to grow into. and take a look at companies like phillip vanhussen, who are transforming their business here and overseas with calvin klein. >> dana, thank you very much for that this morning. people should enjoy it while they can, getting the same store sales figures. the markets are cautiously higher. dow down about 15 points. >> and it's decision time in the ecb. economists aren't expecting a change in policy, but we'll be looking for any explicit reference to the exchange rate confidence i
but people are paying high tax. big pressure on retailers who continue to innovate whether it's in digital or promotion. who do you see out there that's doing that the best? >> we're not -- where i see product innovation occurring, i think it's with companies like urban outfitters who are transforming their product assortment. i think companies like nordstrom are doing a very good job by collaborating with companies like top shop to become younger. .michael coors continues to show the...
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Feb 1, 2013
02/13
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no suggestion there was any motivation about the proposed 57% tax. >>> and we're just about two days away from one of the biggest sporting events in america. the super bowl. the baltimore ravens and the san francisco 49ers are battling it out. there will be plenty of auction off the field. brian shactman has been taking a look at the business of advertising ahead of the big game. >> everyone has their choice for what they consider a classic super bowl ad. whether you like contact, any use of the force, as well as inanment objects knowing how to get down. >> it's that kind of party. hit it. >> the super bowl is one part football, one part tailgate and one part cultural super bowl phenomenon dating back 30 years. >> when we all saw that 1984 xlushl for apple, i think that's when we really all started to loot a commercials in a different light for the super bowl. >> fast forward to 2013 and the ads are scrutinized as much as the game and the cost is enormous. mercedes benz made an eight-figure commitment and brought in super model kate upton to launch an entirely new line of cars. >> it
no suggestion there was any motivation about the proposed 57% tax. >>> and we're just about two days away from one of the biggest sporting events in america. the super bowl. the baltimore ravens and the san francisco 49ers are battling it out. there will be plenty of auction off the field. brian shactman has been taking a look at the business of advertising ahead of the big game. >> everyone has their choice for what they consider a classic super bowl ad. whether you like...